MORTGAGE STUFF (C-Loans Client Letter)
You are receiving this letter because you are a commercial mortgage broker client of either Blackburne & Sons or C-Loans, Inc. Removal instructions are below. Today I, George III (the old man), will share with you how to underwrite a fix-and-flip loan - either a commercial loan or even a residential loan. And, as always, we have lots of great jokes, gags and funny pictures too.
Joke Du Jour
In the early 20th Century, Thomas Edison was spreading the word about electricity. Once, while vacationing out West, he stopped at the Sioux reservation. Edison was shocked to learn that there was no indoor plumbing, and that he would have to use an outhouse. In fact, he was told, the Sioux had to use the outhouse regardless of the weather. To help the Sioux, Edison installed lights in the outhouse. With this kind act, he became the first person to wire a head for a reservation!
Which State ...
Blackburne & Sons Just Made Two More Blanket Loans On a Portfolio of Rental Houses
To our knowledge, no other lender is making these blanket loans on portfolios of rental houses. We love 'em! And one nice feature that we offer is a partial release clause, allowing the owner to either refinance the homes or sell them off individually.
Of course, we're still making our normal commercial loans nationwide. Here's our latest term sheet for commercial loans and non-owner-occupied residential loans. You might want to bookmark it.
New Golf Terms (Joke)
A 'Rock Hudson' - A putt that looked straight, but wasn't.
A 'Saddam Hussein' - From one bunker into another.
A 'Yasser Arafat' - Butt ugly and in the sand.
A 'Teddy Kennedy' - Didn't quite make it over the water.
A 'Rodney King' - Over-clubbed.
An 'O.J.' - Got away with one.
Submit Your Blanket Loan Today
Blackburne & Sons continues to seek first mortgages between $100,000 to $2.5 million on standing commercial properties nationwide.
Did you remember to bookmark our commercial mortgage rate sheet?
To apply for a private money commercial loan from Blackburne & Sons, please find your favorite loan officer below:
Alicia Gandy: 916-338-3232
To apply to Alicia online, please click here.
Desmond Stoll: 916-338-3232
To apply to Desmond online, please click here.
Tom Blackburne: 574-210-6686
To apply to Tom online, please click here.
How To Underwrite a Fix and Flip Loan
Renovation loans and fix-and-flip loans are underwritten just like commercial construction loans (or even residential construction loans). The only difference is that the Land Cost will include the cost of acquiring both the underlying land and the building in need of renovation. More.
Place Your Commercial Loans With C-Loans.com
C-Loans.com is a commercial mortgage portal where you can enter a commercial loan in just four minutes and then submit it to hundreds of different commercial lenders with one click. And C-Loans is free!
Are You Mocking Me?
We're Now Making Home Loans in California
For the past 33 years Blackburne & Sons has exclusively been a commercial lender. That has now changed. We are now aggressively seeking non-owner-occupied home loans in California. (Sorry, folks, we are ONLY licensed to make non-owner-occupied home loans in California. We cannot make home loans in any other state; but we will make commercial loans and blanket loans on residential properties nationwide.)
Got a nationwide commercial deal or a California non-owner-occupied residential deal? Please call your California Loan Officer:
Alicia Gandy at 916-338-3232
Desmond Stoll at 916-338-3232
So I walked into a this bar and heard two girls speaking in what sounded like a lovely Scottish accent. I said, "So, are you two girls from Scotland?" One of them said, "Wales, you idiot!" So I said, "Oh, I am terribly sorry about that. So, are you two whales from Scotland?"
Nine-Hour Video Course on How to Broker Commercial Mortgage Loans
This is my bread-and-butter course that teaches you how to market for commercial loans, how to underwrite them (the ratios), how to place them, and how to collect your fee. Thousands of very happy commercial mortgage brokers have taken this course. Details.
Joe's wife likes to sing, so she joined the church choir. From time-to-time she would practice while she was in the kitchen preparing dinner. Whenever she would start in on a song, Joe would head outside to the porch. His wife, her feelings hurt, asked, "What's the matter, Joe? Don't you like my singing?" "Honey, I love your singing; but I just wanted to make sure the neighbors knew that I'm not beating you."
Now Is the Time to Jump Into Hard Money!
Four-hour training course, How to Find Your Own Private Mortgage Investors. $499. Please click here for details.
You can buy both of my famous training courses, How to Broker Commercial Mortgage Loans and How to Find Your Own Private Mortgage Investors, for just $799. Please call Mick Carlson at 574-855-6292.
Earn Big Referral Fees. We've Made It Really Easy.
Blackburne & Sons will pay you a referral fee of 20% of our loan fee, just for providing us with the name and the phone number of a prospective commercial mortgage borrower. We once paid a referral fee of $21,250 to a guy named Alan Dunn.
Just click here to refer us a commercial loan.
What an Absolute Treat!
When this video opens, it appears it will be a ballet.
Continue watching, as many dancers from over the years appear
in this video. WOW! What a treat to watch. Whoever puts this
together has a wonderful sense of music.
Buy Commercial Leads
You can buy commercial leads from C-Loans for just $1 to $9, plus 37.5 bps. when the deal closes.
The World's Most Foolish Mortgage Broker
I would nominate the broker who does not subscribe to my blog. Folks, I have a bad ticker. I had a heart attack and a triple bypass 10 years ago, at the ripe, young age of just 50. This blog is my desperate attempt to pass on a lifetime of knowledge and experience in commercial real estate finance to my wonderful sons, George IV and Tom, before I suddenly drop dead. You can spy on this wonderful training for free.
Let me put it another way. Every single lesson in every one of my expensive training courses started out first as a free blog article. Hellooo?
So please go to my blog right now, find my ugly picture, and insert your email address in the space immediately below. You will learn soooo much. I am starting to get into some really advanced and sophisticated subjects right now.